Ratings

S&P’s report forecast that Ras Al-Khaimah’s economy will grow about 3% in the coming years

23 July 12:55 PM S&P affirms 'A/A-1' rating of Ras Al-Khaimah

Abu Dhabi – Mubasher: Standard and Poor’s (S&P) has affirmed Ras Al-Khaimah's rating of sovereign issuance by domestic and foreign currencies at "A/A-1" for the long- and short-term, while maintaining its "Stable" future outlook. S&P’s report …

CI Ratings revised Qatar's outlook from Stable to Negative

22 July 06:03 PM Capital Intelligence maintains Qatar ratings, downgrades outlook

Mubasher: Capital Intelligence Ratings (CI) has affirmed Qatar's Long-Term Foreign Currency and Local Currency Ratings of 'AA-' and its Short-Term Foreign and Local Currency Ratings of 'A1+', according to a recent report. The ratings agency has …

CI forecast KFH a stable outlook and a consecutive improvement of its asset quality and profitability metrics in 2017- 18

20 July 02:22 PM Capital Intelligence affirms KFH rating

Kuwait – Mubasher: Capital Intelligence Ratings (CI) on Thursday announced that it has affirmed the financial strength rating (FSR) of Kuwait Finance House (KFH) at 'BBB'. CI gave KFH a stable outlook and forecast a consecutive improvement of its …

Boursa Kuwait closed Wednesday’s trading session in the red

19 July 04:12 PM Boursa Kuwait falls on profit-taking Wednesday

By: Mohamed Farouk Kuwait – Mubasher: Boursa Kuwait closed Wednesday’s trading session in the red, pressured by an eight-sector drop and some profit-taking. The price index was down 0.28% or 19.2 points to 6,793.89 points, while the weighted index …

Liquidity over the next 12 months is expected to stay below $50 million

19 July 12:53 PM Fitch downgrades Kuwait Energy ratings

Kuwait – Mubasher: Fitch Ratings downgraded Kuwait Energy’s long-term issuer default rating (IDR) to “CCC” from “B-”, according to a statement. Fitch also downgraded the company’s senior unsecured rating on its 9.5% notes worth, due in 2019, to …

FAB is one of Gulf region’s largest banks with total assets of AED 682 billion

19 July 11:25 AM CI assigns “A+” rating to First Abu Dhabi Bank FSR

Abu Dhabi – Mubasher: Capital Intelligence Ratings (CI) assigned a financial strength rating (FSR) of “A+” to First Abu Dhabi Bank (FAB), according to a statement. CI’s rating was backed by the bank’s strong management, dominant position in the …

Yansab’s revenues came SAR 200 million lower than Al Rajhi’s estimates

18 July 12:18 PM Al Rajhi Capital overviews Yansab financial results

Riyadh – Mubasher: Al Rajhi Capital said that the financial statements of Yanbu National Petrochemicals (Yansab) in the past two quarters registered a weak performance; however, the company is expected to revive in the current time. The research …

Stock Evaluations

MubasherTrade Research has maintained their price target evaluation at EGP 8.13 per share

17 July 07:26 PM MubasherTrade recommends ‘Hold’ for Cairo Poultry's stock

Cairo - Mubasher: MubasherTrade Research has downgraded their recommendation on the stock of Cairo Poultry Company from Buy/Moderate Risk rating to Hold/Moderate Risk, according to a recent report. The research firm also maintained their price …

AMOC announced preliminary profits of EGP 1.10 billion in FY16/17

17 July 12:16 AM MubasherTrade maintains AMOC’s Buy/Moderate Risk rating

Cairo - Mubasher: MubasherTrade Research has maintained their Buy/Moderate Risk rating on the stock of Alexandria Mineral Oils Company (AMOC), with the same 12-month price target of of EGP 13.18 per share, according to a recent report. AMOC …

Stock Evaluations

Jarir is expected to build six new stores in 2017

16 July 12:44 PM Al Rajhi remains “Neutral” on Jarir stock

Riyadh – Mubasher: Al Rajhi Capital expects a healthy run rate in Jarir Marketing’s current environment which is backed by market share gains in the company’s mobiles and electronics segment, according to a recent report. Al Rajhi forecasts this …

The CIB is expected to achieve a 35.6% mixed annual growth surge from 2016 to 2021

13 July 04:59 PM Renaissance Capital sets CIB FV at EGP 95.7

Cairo – Mubasher: Renaissance Capital on Thursday estimated the fair value (FV) of Commercial International Bank – Egypt’s (CIB) stock at EGP 95.7, up from EGP 83.2, with a “Buy” recommendation. The expectations hint at CIB’s capability of …

The ratings reflect GFH’s improved financial position

13 July 08:38 AM Fitch upgrades GFH ratings

Kuwait – Mubasher: Fitch Ratings upgraded GFH Financial Group’s long-term issuer default rating (IDR) from “B-” to “B”, with a “Positive” outlook, according to a statement. The group’s short-term IDR has been affirmed at “B”. The ratings reflect …

By the end of the previous week, 24-karat gold decreased 1.98% or AED 2.9 to reach AED 143.21

9 July 06:03 PM UAE gold demand grows as prices drop - Analysts

By: Mahmoud Gamal Dubai – Mubasher: Gold prices in the UAE retreated by the end of the previous week, while analysts and experts expect an increase in requests for gold as prices reached attractive levels. By the end of the previous week, 24-karat …

The stock trades at a future price-to-earnings ratio (P/E) of 12

9 July 03:31 PM Al Rajhi affirms rating on Advanced Petrochemical stock

Riyadh – Mubasher: Al Rajhi Capital has maintained its “Neutral” rating on Advanced Petrochemical’s stock, with a target price of SAR 46 per share. The stock trades at a future price-to-earnings ratio (P/E) of 12, compared to 12.1 and 12.8 P/E …

Moody’s affirms Ooredoo Qatar ‘A2’ rating

6 July 02:57 PM Moody’s affirms Ooredoo Qatar ‘A2’ rating

Mubasher: Moody's Investors Service on Thursday confirmed the “A2” long-term rating with a “Stable” outlook for the Qatari telecom company Ooredoo. The agency also affirmed the “A2” senior unsecured ratings on Ooredoo International Finance Limited …

Downgrading the outlook to negative is due to the crisis between Qatar and Arab countries

5 July 12:58 AM Moody's downgrades Qatar's outlook to negative

Mubasher: Moody's Investors Service has changed Qatar's rating outlook to negative, and affirmed their Aa3 rating. Changing the outlook is attributed to the financial risks arising from the dispute between Qatar and a number of countries, …

The Abu Dhabi Investment Authority (ADIA) was ranked the second largest sovereign wealth fund globally

2 July 10:53 AM ADIA ranked 2nd largest sovereign fund worldwide

Abu Dhabi – Mubasher: The Abu Dhabi Investment Authority (ADIA) was ranked the second largest sovereign wealth fund globally with total assets reaching $828 billion, according to data published by the Sovereign Wealth Fund Institute (SWFI) in …

The combined entity will be seen as more strategically important to the government, providing greater economic value than as two distinctly separate entities

2 July 08:08 AM S&P affirms ratings on IPIC, Mubadala

Abu Dhabi – Mubasher: S&P Global Ratings affirmed its "AA/A-1+" long- and short-term local and foreign currency issuer credit ratings on International Petroleum Investment Co (IPIC) and Mubadala Development Company, with a “Stable” outlook, …

Companies Investments

DIC's headquarter

28 June 02:46 PM A M Best upgrades DIC ratings

Dubai – Mubasher: A M Best has upgraded Dubai Insurance Company’s (DIC) financial strength rating to A- (Excellent) from B++ (Good) and the long-term issuer credit rating to “a-” from “bbb+”, according to a statement. The outlooks of these Credit …

28 June 09:34 AM S&P affirms Gulf Bank credit ratings

Kuwait – Mubasher: S&P Global Ratings has affirmed “A-/A-2” long- and short-term counterparty credit ratings on Kuwait-based Gulf Bank, according to a bourse statement. The rating agency also revised its outlook on the bank to “positive” from …

The bank’s financial strength rating (FSR) is also maintained at “BBB”.

27 June 12:42 PM Bahrain’s UGB ratings affirmed

Mubasher: Capital Intelligence Ratings (CI Ratings) has affirmed the long- and short-term foreign currency ratings (FCRs) of United Gulf Bank (UGB) at “BBB” and “A3” respectively, with a “Negative” outlook, according to a statement. The bank’s …

The effects will differ from one bank to another

20 June 06:11 PM Qatar ‘prolonged’ isolation may hurt sovereign, banks ratings – CI

Doha – Mubasher: Capital Intelligence Ratings Ltd (CI) on Tuesday warned that if Qatar’s isolation continues on the back of diplomatic rift announced earlier this month, this may negatively impact Qatar’s sovereign and banks ratings. On 5 June, …

This rating reflects the company’s regional excellent business

20 June 11:42 AM AM Best affirms Gulf Insurance credit rating

Kuwait – Mubasher: AM Best has affirmed the credit rating of Gulf Insurance Group at “A” with a “Stable” outlook. This rating reflects the company’s regional excellent business as well as the good capital adequacy and continuous profitability, …

MubasherTrade Research also set the stock's price target at EGP 53.83 per share

19 June 04:45 PM MubasherTrade places “Buy/Moderate Risk” on Kafr El-Zayat Pesticides

Cairo - Mubasher: MubasherTrade Research has initiate their coverage of Kafr El Zayat Pesticides (KZ) with a Buy/Moderate Risk rating and a price target (PT) of EGP 53.83. “Today, and following an impressive performance in 2016, we are …

S&P Global forecast that Qatar’s diplomatic disputes with some Gulf and Arab countries will have a milder effect on Ooredoo

19 June 02:16 PM S&P, Fitch amend Ooredoo ratings

Doha – Mubasher: Ooredoo on Monday announced that S&P Global Research has placed the company on CreditWatch with “negative” implications, while Fitch also set its long-term issuer default ratings “A+” on Rating Watch with “negative” implications. …